The following is a summary of the Mondee Holdings, Inc. (MOND) Q1 2024 Earnings Call Transcript:

Financial Performance:

• Mondee Holdings reported a record Q1 with a net revenue of $58 million, marking a 16% YoY growth.

• The company's take rate increased by 10% YoY to 8.2%.

• Adjusted EBITDA for Q1 2024 was reported at $5.1 million, largely fueled by product and geography expansion.

• Cash results increased by $11.4 million compared to previous quarters due to maintaining a positive cash flow.

• The revenue mix from non-air components like hotels and packages expanded from 26% in Q1 2023 to 51% in Q1 2024.

Business Progress:

• Mondee deployed their AI capabilities throughout their business focusing on profitability, their travel marketplace expansion, and preserving AI technology leadership.

• The company successfully diversified their product mix and improved their take rate contributing to marketplace expansion.

• Continued developments in air travel attributes and end-to-end capabilities are being made across their ecosystem.

• Mondee positioned itself favorably in volatile travel environments and expects growth from emerging market trends.

• The company is growing its market share within the $1 trillion plus assisted and affiliated travel market by augmenting their marketplace and shifting towards more profitable verticals.

More details: Mondee Holdings IR

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